Employee Provident Fund is a very important tool of retirement planning. The tax free interest (compounding) and the maturity ensures a good growth of your money. If continued for a very long term, it can help immensely in meeting ones retirement goal. But while fulfilling other goals or during emergencies, we fall short of funds even after taking all recourse and do force borrowing.

The labour ministry is considering paying the employers share towards the health insurance scheme under the Employees State Insurance Corporation for all new recruits. The government had in the budget for 2018-19 committed itself to meeting the entire employers contribution of 12% of wages for employees towards PF under the Employees Provident Fund Organisation for all sectors for the next three years.

Reversing its earlier decision, the EPFO has decided to accept provident fund withdrawal claims of over Rs.10L via physical forms submitted offline. In an earlier circular the EPFO had issued instructions to its offices to allow submission of PF claims of over Rs.10L only online. EPFO in its circular dated 13 April 2018 has revised instructions to settle claims for PF and EPS withdrawals.